Tutor Perini (NYSE:TPC) Lowered to “Hold” Rating by StockNews.com

StockNews.com lowered shares of Tutor Perini (NYSE:TPC) from a buy rating to a hold rating in a research report released on Tuesday morning.

Other analysts have also issued reports about the stock. B. Riley upped their price objective on shares of Tutor Perini from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Vertical Research assumed coverage on shares of Tutor Perini in a research note on Tuesday, December 10th. They issued a “buy” rating and a $38.00 price objective for the company. Finally, UBS Group boosted their target price on shares of Tutor Perini from $27.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd.

Tutor Perini Stock Down 18.9 %

TPC stock opened at $19.72 on Tuesday. The firm has a market cap of $1.03 billion, a PE ratio of -7.85 and a beta of 1.54. Tutor Perini has a 12 month low of $8.45 and a 12 month high of $34.55. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.55 and a quick ratio of 1.55. The firm has a 50 day simple moving average of $25.63 and a 200 day simple moving average of $25.15.

Tutor Perini (NYSE:TPC) last released its quarterly earnings data on Wednesday, November 6th. The construction company reported ($1.92) earnings per share for the quarter, missing the consensus estimate of ($1.89) by ($0.03). The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.17 billion. Tutor Perini had a negative return on equity of 9.56% and a negative net margin of 3.08%. The business’s revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.71) earnings per share. Equities research analysts forecast that Tutor Perini will post -1.47 earnings per share for the current fiscal year.

Insider Buying and Selling at Tutor Perini

In other Tutor Perini news, CEO Ronald N. Tutor sold 125,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $30.72, for a total value of $3,840,000.00. Following the completion of the sale, the chief executive officer now directly owns 3,257,313 shares of the company’s stock, valued at $100,064,655.36. The trade was a 3.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Raymond R. Oneglia sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $28.73, for a total value of $2,873,000.00. Following the transaction, the director now owns 400,000 shares in the company, valued at approximately $11,492,000. This trade represents a 20.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 325,000 shares of company stock worth $9,686,000. 19.50% of the stock is currently owned by company insiders.

Institutional Trading of Tutor Perini

Several large investors have recently modified their holdings of TPC. Fred Alger Management LLC bought a new stake in Tutor Perini during the third quarter valued at about $16,034,000. JPMorgan Chase & Co. increased its position in Tutor Perini by 611.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 536,384 shares of the construction company’s stock worth $14,568,000 after buying an additional 460,945 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Tutor Perini by 129.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 783,396 shares of the construction company’s stock worth $21,277,000 after buying an additional 441,858 shares during the last quarter. Algert Global LLC bought a new stake in shares of Tutor Perini in the second quarter valued at approximately $4,138,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Tutor Perini in the second quarter worth $2,520,000. 65.01% of the stock is owned by institutional investors.

About Tutor Perini

Tutor Perini Corporation, a construction company, provides diversified general contracting, construction management, and design-build services to private customers and public agencies in the United States and internationally. It operates through three segments: Civil, Building, and Specialty Contractors.